Home passes payday financing bill

Home passes payday financing bill

Following a spirited debate yesterday, the Ohio home passed a bill that will slice the fees payday loan providers can charge for short-term loans.

The House voted 61-37 to prohibit payday lenders from issuing checks and then charging customers to cash them with 48 Democrats joining 13 republicans. The balance additionally would restrict credit-check and origination costs on loans of $1,000 or less to as soon as every ninety days. Continue reading →